When monies are owed, you're impacted
It's our job to lessen the blow.
Finding out you are owed money and the other party can’t meet that obligation is frustrating and worse still, could impact your business. We look out for creditors who have been impacted by insolvency, positively working through the process to recover what we can, to help you get on with your business.
Registered liquidators
Worrells is available Australia wide
Fast, cost effective options
Maximum protection for the secured creditor
Background
What is receivership?
A receivership's purpose is for a secured creditor to take control via a third-party known as a receiver (or receiver and manager) to assume control of some or all of the company's assets. A receiver taking control means potentially protecting, collecting, and selling those assets to repay the debt owed to the secured creditor.
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Ready to act
Finding out you are owed money and the other party can’t meet that obligation is frustrating and worse still, could impact your business. We look out for creditors who have been impacted by insolvency, positively working through the process to recover what we can, to help you get on with your business.
Get in touch
We're here to help
We speak with people every day as complimentary and without expectation.
Jason Bettles
Principal, Gold Coast, Northern NSW
Aaron Lucan
Principal, Western Sydney, Central West
Stephen Hundy
Principal, Canberra, Wollongong
Matthew Kucianski
Principal, Melbourne, Ringwood
Mervyn Kitay
Principal, Perth
FAQs
Some questions you may like answered.
A secured creditor can take action to protect, collect and sell some or all the company’s assets. This is done for the company to repay debts owed to the secured creditor.
A secured creditor holds a security interest, such as a mortgage, in some or all the company’s assets, to secure a debt they are owed by a company. For example, lenders might require a security interest in company assets when they provide a loan.
An unsecured creditor does not hold a security interest in relation to a debt they’re owed by a company. However some some types of employees ( as creditors) take priority in insolvency administrations to certain limits and conditions.
Dual insolvency appointments can be made over the same company when there's a receiver (or receiver and manager) appointed for a secured creditor. This means an unsecured creditor can apply to court to place the company into liquidation to recoup on an unpaid debt they're owed.
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